Moderators: Elvis, DrVolin, Jeff
Billionaires Avoid Reporting Cash Gains to IRS
By Jesse Drucker - Nov 21, 2011
(Bloomberg) -
(...)
McCombs’s fight with the IRS illustrates an overlooked facet in the debate over tax rates paid by the nation’s wealthiest. Billionaires -- from McCombs to Philip Anschutz to Ronald S. Lauder -- who derive the bulk of their wealth from stock appreciation are using strategies that reap hundreds of millions of dollars from those valuable shares in ways the IRS often doesn’t classify as taxable income, securities filings and tax court records show.
(...)
Tip of Iceberg
The rate at which the 400 U.S. taxpayers with the highest adjusted gross income actually paid federal income taxes --their so-called effective tax rate -- fell to about 18 percent in 2008 from almost 30 percent in 1995, IRS data show. That’s the tip of the iceberg, since much of their wealth never converts into income on a tax return, McCaffery said.
American Dream wrote:Video remix: UC Davis pepper spray incident viewed from 4 different perspectives
‘It’s a Food Product, Essentially’: Fox News Starts Spinning Pepper Spray Cops
gawker.com
Tonight, Fox News hosts Bill O'Reilly and Megyn Kelly got to talking about a UC Davis police officer's appalling use of pepper spray on nonviolent protesters over the weekend. Guess what direction the conversation took!
If you guessed "needlessly deferential to authority and dismissive to the suffering of protesters," you guessed correctly!
"I don't think we have the right to Monday-morning quarterback the police," O'Reilly says, "particularly at a place like UC Davis, which is a fairly liberal campus." God forbid! We'd never want to question Lt. John Pike's decision to generously and indifferently dust peacefully sitting protesters with pepper spray from only a few feet away. Especially given that Davis is, you know, a liberal campus! And, gosh, even if we were going to Monday-morning quarterback the police, shouldn't we remember, as Megyn Kelly tells O'Reilly, that pepper spray is "a food product, essentially"?
Now, look, Kelly and O'Reilly aren't saying the cops did the right thing! God, no! "I agree [the tape] looks bad," Kelly says. It's just that the protesters were sitting in a place where they weren't allowed to sit, so it's kind of their own fault! And in any event what right do we have to judge a cop for spraying a simple food product on the faces of a bunch of liberal college kids doing something criminal? You know? Maybe he was just trying to feed them?
yourfriendandmine Mon 21 Nov 2011 10:18 PM
Megyn Kelly on fire hoses: "It’s a sports beverage, essentially!"
Megyn Kelly on police dogs: "It’s a family pet, essentially!"
Megyn Kelly on tasers: "It’s static cling, essentially!"
Megyn Kelly on rubber bullets: "It’s a pencil eraser, essentially!"
Megyn Kelly on hand grenades: "It’s a Fourth of July firework, essentially! God bless America."
CountFosco @yourfriendandmine
Megyn Kelly on beanbag rounds: "It's a game of cornhole, essentially!"
AMessageToRudy @yourfriendandmine
Megyn Kelly on brains; "It's skull space-filler, essentially."
yourfriendandmine @CountFosco
Megyn Kelly on nightsticks: "It's an olive branch, essentially!"
QueenOfTarts @yourfriendandmine
Excellent meme material..make it happen!
[redacted] @yourfriendandmine
Megyn Kelly on waterboarding: "It's a water park ride essentially!"
BeefFajitas @yourfriendandmine
Megyn Kelly on Auschwitz: "It was a three star hotel, essentially."
SidAndFinancy @yourfriendandmine
Megyn Kelly on fingernail extraction: "It's a mani-pedi, essentially!"
Sauceboy @yourfriendandmine
Megyn Kelly on genital mutilation: "It's a Brazilian wax, essentially!"
PJamma @yourfriendandmine
Megan Kelly on her haircut: "It's a style, essentially!"
yourfriendandmine @[redacted]
Megyn Kelly on vet beatings: "It's greeting liberators, essentially!"
obfuscator2 @[redacted]
I was going to say:
Megyn Kelly on waterboarding: "It's a Neti Pot, essentially!"
jayareff @yourfriendandmine
Megyn Kelly on being laid off when your wife is pregnant: "It's European style family leave, essentially."
Rozelle’s Bagman @yourfriendandmine
Megyn Kelly on zip-tie handcuffs: "It's a Livestrong bracelet, essentially."
Munchma Quchi @yourfriendandmine
Megyn Kelly on Jerry Sandusky: "He was having sex, essentially".
treefingersss @yourfriendandmine
Megyn Kelly on HIV: "It's a common cold, essentially!"
BeefFajitas @yourfriendandmine
Megyn Kelly on the 9/11 hijackings: "They were like that Steve Miller Band Jet Airliner song, essentially."
AUsername @yourfriendandmine
Megyn Kelly on tear gas: "It's like a sad story, essentially!"
Megyn Kelly on flashbangs: "It's like a surprise party, essentially!"
Megyn Kelly on sleep deprivation: "It's like a cup o' Joe, essentially!"
Megyn Kelly on stress positions: "It's like yoga, essentially!"
Megyn Kelly on mock executions: "It's like make-believe, essentially!"
LittleMisterMoffatt @yourfriendandmine
Megyn Kelly on the rack: "It's a chiropractor, essentially!"
MoronicInferno @yourfriendandmine
Megyn Kelly on mustard gas: "It's a hot dog condiment, essentially!"
Megyn Kelly on nuclear weapons: "It's a microwave dinner, essentially!"
Megyn Kelly on sound weapons: "It's a boom box, essentially!"
Megyn Kelly on Molotov cocktails: "It's a flirtini, essentially!"
aeschylus.daniel @yourfriendandmine
megyn kelly on guantanamo: "ít's a carribean vacation, essentially"
BerniceNymph @yourfriendandmine
Megyn Kelly on arsenic: "It's a vitamin, essentially!"
Megyn Kelly on handguns: "It's a slingshot, essentially!"
Komeister @yourfriendandmine Megyn Kelly on Hitler: "Basically a guy with neat hair and a cute moustache"
Poll: 56 percent in U.S. ambivalent towards ‘Occupy Wall Street’
The majority of Americans are ambivalent towards the ongoing “Occupy Wall Street” protests and are also uncertain about their goals, according to a Gallup poll released on Monday.
Fifty-six percent of those surveyed said they neither support nor oppose the two-month-old movement and 59 percent said they didn’t know enough to form an opinion about its goals.
As corporations enjoyed near record profits and Americans faced staggering unemployment, the protesters pledged to occupy Wall Street in lower Manhattanin until something was done about the influence of the wealthy on American politics. The protest slowly spread to other cities across the United States.
Supporters of the goals of “Occupy Wall Street” outnumbered its opponents, according to the survey.
Twenty-five percent of Americans approved of the goals of the movement, up three points from October, and 16 percent disapproved. Democrats were significantly more likely than Republicans to approve of its goals, but a large portion of Democrats had no opinion.
But when it came to the actual demonstrations themselves, the amount of people disagreeing with how the protests were being conducted jumped from 20 percent in October to 31 percent in November.
The Gallup poll was conducted November 19-20 and surveyed 996 adults.
Users browsing this forum: No registered users and 173 guests